Central bank to supervise

The PBOC, China's central bank, is to take over supervision of anti-money laundering activities from the Ministry of Public Security. The Ministry of Public Security and State Administration of Foreign Exchange (SAFE) both have departments that deal with money laundering crimes and these will be brought together to work under the central bank.

SAFE alone uncovered more than 12, 000 illegal operations in foreign currencies last year, with a combined value of US$9 billion.